Advanced Vision Technology Ltd. (XETRA:VSJ) swung to a profit on higher revenue for the second quarter of 2010. The developer of automatic optical inspection and quality assurance systems for the printing industry is based in Hod Hasharon.
Advanced Vision posted $9.8 million for the second quarter, 8.3% more than the $9.1 million for the corresponding quarter of 2009. Revenue was unchanged compared with the preceding quarter.
Advanced Vision posted a net profit of $10,000 (zero per share) for the second quarter, compared with a net loss of $667,000 for the corresponding quarter. The company narrowed its net loss to $300,000 ($0.05 per share) in the first half of the year from $2.2 million in the first half of 2009.
The orders booking rose 21.7% to $20.4 million in the first half compared with the first half of last year, and the $10.4 million in orders in the second quarter was a two-year high. This was the third consecutive quarter in which the orders booking exceeded revenue.
Advanced Vision CEO Shlomo Amir said, "The company continued its order booking growth, and returned to profitability for the first time in 2 years. I am encouraged by the positive momentum of our growth, and expect it to continue in the second half of 2010."
Advanced Vision share price 8.3% in Frankfurt today to €3.14.
Published by Globes [online], Israel business news - www.globes-online.com - on August 5, 2010
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